Orlando, FL 3/12/12 (StreetBeat) -- Wabtec Corp (NYSE: WAB) raised its 2012 outlook due to higher demand for new freight cars and locomotives.The company, which makes parts for locomotives, freight cars and passenger transit vehicles, raised its full-year earnings outlook to $4.80 per share. It had predicted a profit of $4.30 per share earlier.
Analysts, on average, were expecting $4.37 per share, according to Thomson Reuters I/B/E/S.
Wabtec, which competes with Greenbrier Cos Inc and Faiveley Transport, now expects 2012 revenue to grow by 12 percent. It had previously forecast revenue growth of 10 percent.
Shares of the Wilmerding, Pennsylvania-based company were up 7 percent at $76.00 in premarket on Thursday. They had closed at $71.30 on Wednesday on the New York Stock Exchange.
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